By Denny Jacob
TD Synnex posted higher revenue in its latest quarter but that and other key metrics along with its outlook for the second quarter came up short of Wall Street's estimates, sending shares lower.
The IT-services company recorded net income of $167.5 million, or $1.98 a share, for the three months ended Feb. 28, down from $172.1 million, or $1.93 a share, in the prior-year period.
Stripping out certain one-time items, earnings were $2.80 a share. Analysts polled by FactSet expected $2.91 a share.
Revenue rose to $14.53 billion from $13.98 billion. Analysts polled by FactSet expected $14.79 billion.
TD Synnex forecast revenue between $13.9 billion and $14.7 billion as well as adjusted earnings per-share in the range of $2.45 and $2.95 in the fiscal second quarter. Analysts polled by FactSet expected $14.72 billion in revenue and $3.03 a share in adjusted earnings.
Shares declined 9.2% to $114 in premarket trading. The stock is up about 11% over the last year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 27, 2025 08:28 ET (12:28 GMT)
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